The U.S. doesn't have a state-owned oil giant. But in Venezuela, the federal government will control a company with the world's 2nd largest reserves

(Credit: Javier Campos/NurPhoto via Getty Images)

Many of the world’s top oil countries have state-run national champions, such as Saudi Arabia’s Aramco, Russia’s Rosneft, the UAE’s Abu Dhabi National Oil Company, Brazil’s Petrobras, and Mexico’s Pemex.

But the U.S., which is the world’s biggest oil producer, doesn’t have one, leaving the task of pumping crude to private-sector giants like Exxon Mobil and Chevron as well as the multitude of wildcatters across the Permian Basin.